VMware, Cisco, Baidu, Apple: Tech Premarket

Tuesday

Jul 24, 2012 at 12:01 AMJul 24, 2012 at 8:19 PM

VMware is one of the big losers in premarket trading on Tuesday as investors respond to the company's acquisition of Nicira.

James Rogers

NEW YORK (TheStreet) -- VMware(:VMW) was one of the big losers in premarket trading on Tuesday, slipping 3.06% to $86.50 as investors responded to the company's acquisition of network virtualization software maker Nicira.

The virtualization giant announced the deal, as well as its second-quarter results, after market close on Monday. VMware will pay more than $1 billion in cash for Nicira.

Cisco(:CSCO) was another premarket loser, dipping 1.37% to $15.85 as investors responded to the company's latest round of job cuts. The Dow component announced plans to cut 2% of its total work force on Monday.

At the end of its fiscal third quarter in May, Cisco had 65,223 employees worldwide.

Baidu(:BIDU), however, was a major gainer, climbing 5.79% to $113.30 following strong second-quarter results, released on Monday.

Shares of Apple(:AAPL), which reports its third-quarter results after market close, rose 0.57% to $607.25 before market open. The iPhone maker was also one of the most active premarket Nasdaq stocks on share volume of 106,652.